A climate mitigation policy mix of carbon taxes, green subsidies, and infrastructure investment could reduce global balances by a quarter by 2027. But only if countries coordinate their response.
With fossil fuels likely to remain expensive for some time, governments should let retail prices rise to promote energy conservation while protecting poorer households.
As the world gears up to avoid a climate catastrophe by limiting global warming to 1.5 to 2 degrees Celsius, more countries are putting carbon pricing at the center of their mitigation strategies.
Emissions of carbon dioxide and other harmful greenhouse gases plunged 4.6 percent in 2020, offering reason to think that the pandemic might be a turning point in the climate-change fight.
The arc of 2021, from tentative recovery to resurgent uncertainty, may feel like more of a circle for many around the world who are understandably weary of the pandemic and eager for a return to normal.
The past year has brought us new challenges even as the old ones persist. If anything, the ongoing pandemic has taught us to think differently about tackling the challenges and questions we currently face when it comes to big issues like climate change, gender equality, inflation and economic measurement.